The wool market continued in the same vein as last sale trending down by another 27 cents to 1751. In US$ terms the step backwards was not as severe, a 13 cent reduction to 1379 as the A$ appreciated 0.75 of a cent to 78 cents. Losses were similar on both days to have all merino fleece MPGs retract by 35 to 70 cents. Buyers became more and more selective in their purchases as high mid-breaks/levels of VM were punished. On the flip-side any lots that fitted the right “specs” (high strength, low VM and mid-breaks) were chased hard and commanded premiums of 30 to 100 cents on the few good lots we had from Goolma, Mudgee, Elong and Coonabarabran. Most growers, despite the drifting prices, took the money as 94% of fleece was sold.

Skirtings also kept pace with their fleece counterparts as losses ranged from 30 cents for fine low VM types to 50/60 cents for broader burrier types with the ever increasing volume of heavy cott and colour in theses types attracting larger discounts. For the 2nd sale running the MCI lost 20 cents to fall below 1300 cents (1298) LKS being the main culprit peeling off 35 to 50 cents while CRS fell 20 cents and STN were quoted as fully firm. The firming market for XBs got the staggers this sale after 5 weeks of gains, the losses were minimal, 5 to 15 cents for most types, but still in good territory. Since the rises started in early February, 25/28 microns have jumped 110 to 130 cents while the 30s and broader are up to 30 cents better.

This sale’s “drifting”?? market demonstrated the under-current of swelling demand as late in the session the falling prices on several types was arrested to give hope that the sliding market is slowing. The hangover from Chinese New Year, high prices, quality of the selection and finance problems are still weighing on the market.

This week marked a huge milestone for Don. It was on 15th March 1988 his 1st catalogue was offered under the Lanoc Wool banner. The opening fleece lot in that catalogue was “BERRUMBUCKLE” a/c Tony Knight from Coonabarabran. His main line of 20.2 micron, 0.9, 75.7, no L/S test made 1450 cents (1915 cln) type 61. He sold his 2018 clip this week, with a top price of 1890 cents for 17.5 micron hogget wool. He told us that 1 tonne of “single super” fertiliser cost 7.5 fat lambs (today it’s about 3 fat lambs), shearing was $0.88/sheep and a schooner cost $1.20 - those were the days!! Well done to both, a great association and achievement.